With which of the following sectors is the agency short-named as CIBIL associated?
1. Insurance sector
2. Banking sector
3. Automobile sector
4. Sugar sector

The Correct Answer is "Banking sector".

• A CIBIL Score is a consumer's credit score.
• Simply put, this is a three-digit numeric summary of a consumer's credit history and a reflection of the person's credit profile.
• This is based on past credit behavior, such as borrowing and repayment habits as shared by banks and lenders with CIBIL on a regular basis (the details of which are featured in the consumer's CIBIL Report).
• The Score is based on details found in the 'Accounts' and 'Enquiries' sections of the CIBIL Report, including (but not restricted to) loan accounts or credit cards, payment statuses, outstanding amounts, and days past the due date. Ranging from 300 to 900, the closer a CIBIL Score is to 900, the higher are the chances of the consumer's credit card or loan application getting approved.
• TransUnion CIBIL (formerly Credit Information Bureau (India) Limited) is India's leading credit information company with one of the largest collections of consumer information.
• It was established in 2000.

• A CIBIL report is a consolidated credit report that includes the consumer's CIBIL Score and credit summary, personal information, contact information, employment information, and loan account information.
• It is important to note that lenders consider both the CIBIL Score and Report to assess a person's loan eligibility.
• The CIBIL Score is generated by a scoring algorithm, which takes into account a large number of data points and macro-level credit trends.
• It is based on 36 months of credit history.
• Primarily, there are four key factors that impact a consumer's CIBIL Score - payment history, credit mix of secured or unsecured loans, enquiries and credit utilisation. However, the latest CIBIL Score algorithm also includes the depth of credit (that is, the duration of your existing credit history from when your oldest credit account was opened), long term trend of outstanding balances, transaction history on credit cards, the ratio of actual repayment amount to total amount due and new accounts opened/accounts closed.